An effort to shore up troubled pension plans for many middle-class workers comes with a squishy price tag. A bill (S 2147) by Sen. Sherrod Brown, D-Ohio, would create a Pension Rehabilitation Administration within the Treasury Department that could make loans to multiemployer pension plans for union workers. Those plans have been estimated to be underfunded by about $65 billion, endangering the retirements of about 1.5 million residents nationwide. The Congressional Budget Office had provided a preliminary estimate several [...]

Ohio Democrats Sen. Sherrod Brown and Rep. Tim Ryan unveiled a bill they say will guarantee that thousands of retirees in the state receive the pensions they were originally promised. At a news conference Monday in Youngstown, Brown and Ryan said they want Congress to create a new federal office that would allow no fewer than seven pension funds in the state to borrow enough money to remain solvent and continue providing pensions for the retirees. […]

Over half of workers who are actively participating in 401(k)-type savings plans are accumulating debt faster than they are building their retirement nest egg. And a new survey of U.S. workers and retirees just released by the Employee Benefit Research Institute shows more than one-third of workers have less than $1,000 saved for retirement; more than half have less than $10,000 set aside. Think about that for a minute. Denial or hoping to win the lottery are becoming the [...]

If Cincinnati finally solves its thorniest financial problem – its employee pension fund – it will be because of the collision of a good idea, willing “adversaries” and deadline pressure. Mayor John Cranley on Tuesday proposed asking the federal courts to oversee a consent decree to stabilize employees’ retirement and health benefits without putting the city at financial risk. The city manager would be authorized to enter binding negotiations with current employees and retirees that would result in reduced [...]

Servicemarks

Lifetime Income Security Account (LISA) is a service mark of CORPaTH. Guaranteed Lifetime Income Account (GLIA) is a servicemark of CORPaTH. CORPaTH is a SAGE Solution: Sustainability Advocacy Governance and Education. CORPaTH is a Joint Labor Management Initiative.